Victoria BC-Fernwood-Real Estate Review
Victoria BC-Fernwood Real Estate Year in Review
As 2009 draws to a close....... I thought I would review the Real Estate activities of Greater Victoria's Fernwood Real Estate. Fernwood Single Family Sales since January Total 110 Homes Sold with an 2009 year to date Average Selling Price of $464,571 with an average of 25 days on the market. Fernwood Single Family Pending Sales Total 5 with an average selling price of $ 460,400 with an average of 8 days on the market. It would appear Fernwood Single Family Real Estate sale prices are steady, and the days on the market have decreased. Currently there are 6 Single Family Homes For Sale in Fernwood with an Average asking price of $ 587,467 the the lowest on Denman Street at $169,900 to $679,000 for a home on Fell Street.
History of Fernwood Residential development began in earnest in the 1890s, and many homes in western Fernwood and along Fernwood Road itself date from this era. In the early 1900s a large area west of Fernwood Road was used as a sand and gravel pit to supply construction materials to local builders, to the dismay of many early residents. The problem was partly solved by the construction of the present Victoria High School in 1912 on some of the lands that had been used as the sand and gravel pit.
Historically, a Spring in Fernwood supplied Victoria with its main source of water, hence the earlier name of the neighborhood, Springridge. In 1875 Victoria began piping water from Elk Lake, and in 1885, the site of the original springs became the location of the Empire Brewery.